The United States Public Company Accounting Oversight Board (PCAOB) says it has gotten full access to inspect and investigate accounting firms in China for the first time ever, removing the risk that around 200 Chinese companies could be kicked off US stock exchanges.The statement on Thursday from the PCAOB, the US accounting watchdog, marks a victory for US regulators and a relief for Chinese firms, including Alibaba, facing delisting amid rocky relations between the world’s largest economies. Washington and Beijing have been locked in a heated trade and technology war.“For the first time in history, we are able to perform full and thorough inspections and investigations to root out potential problems and hold firms accountable to fix them,” said PCAOB Chair Erica Williams.
Load More
Load More